Answer: 1556.52935024
Step-by-step explanation: Pemdas
According to Khan Academy, "The order of operations is a rule that tells the correct sequence of steps for evaluating a math expression. We can remember the order using PEMDAS: Parentheses, Exponents, Multiplication and Division (from left to right), Addition and Subtraction (from left to right)."
Answer:
$2,226.96
Step-by-step explanation:
You are going to want to use the compound interest formula, which is shown below.
<em>P = initial balance </em>
<em>r = interest rate </em>
<em>n = number of times compounded annually </em>
<em>t = time </em>
<em />
First, change 10% into its decimal form:
10% -> -> 0.1
Now lets plug in the values into the equation:
The final amount after 15 years is $2,226.96
